How is the job market?

It is probably one of the questions that we have been answering the most in recent weeks.

The pandemic is taking longer than we expected, and after a first impact that literally paralyzed the labor market, companies have been forced to get up and continue to navigate in a highly uncertain context.

A few months ago, there was talk of the economic recovery in the form of “U”, “L”, “V”, or “K”. Right now, it seems that the most accurate prediction is the “K” shape.

In other words, our economy is divided into two axes : on the one hand, the sectors that can continue to function with a certain normality, and others that are in an extreme situation.

The labor market, at least in terms of managerial positions, is in a similar situation. In some sectors, we see activity and a high volume of recruitment. On the other hand, in other sectors, no movement is expected, at least, until the end of 2021.

It is often said that executive search firms are a thermometer of the state of health of the economy and the job market. Well, right now, it is difficult to make predictions, find clear trends, and answer the question posed at the beginning.

What we are seeing clearly is that those companies that continue to operate with a certain normality and consider incorporating talent are having more difficulties than usual in attracting it.

The uncertainty of the current context generates fear and anxiety, and the response of many candidates is to adopt a conservative attitude as a defense mechanism and, consequently, to “hold on to the chair” instead of posing and assuming new professional challenges.

Therefore, our role is, now more than ever, to guide and accompany companies to attract the talent necessary to lead the recovery.